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slowing of contraction. in china, services pmi accelerating to 54. as markets climb back from the s&p's worst day since november, is today's market going to demonstrate investors' willingness to buy the shallowest of dips. >> the business that accounts for half of sales down 6% for the recent quarter. >> justice department's lawsuit raising all kinds of questions. is this payback for downgrading the sovereign debt? >> and will today bring news of a dell lbo, and if it happens, what is the effect on equity markets, credit markets, the pc sector and michael dell himself. >> we start with the markets today. futures off the highs of the morning. the biggest decline of the year so far. s&p fell back below 1,500. the markets topped out, or is there more room to run for the bulls. jim is back from new orleans and other exotic locales. >> oh, yeah. >> good to have you back. >> thank you, carl, good to be back. >> are we in a new kind of environment? >> i think there's some program selling. the dow 14,000, a lot of institutions might say, okay, enough is enough. let's do some lock-in. i thin
to the euro, above 134 this morning. japan's nikkei surging nearly 2%. the markets in china and hong kong are closed for a second straight day in observance of the chinese lunar new year. apple, in just about 1 hour 15 minutes, ceo tim cook takes the stage at the goldman tech conference. he will unveil a dividend increase or buyback. will he reveal anything about the product pipeline. we're on the ground in san fran. >>> the president set to deliver the state of the union address tonight. will he strike a conciliatory tone or push for more tax hikes. and why will tim cook be sitting next to the first lady. >>> europe, once again, the laggard with a decline in both volumes and sales. >>> what a quarter for michael kors. blew out earnings, posted a whopping 41% comp in north america. >>> we begin, of course, with apple. ceo tim cook set to speak at the goldman sachs conference in san francisco. this comes amid concerns about apple losing smartphone market share, a legal challenge in a stock that has fallen more than 30% from its september highs. it is the stock declines that i think puts in
. in europe, the eu summit continues. but the action really taking its cues from china this morning. we have green arrows across the board in europe. take a look at asia. strong eco data out of china in focus. much more on that in just a moment. the road map begins at the golden arches. not even the cheddar onion burgers could help mcdonald's. they missed estimates in every region. asia was down a whopping 9.5%. >> exports boomed 25%, inflation cooled, but met expectations, capping off a two-week winning streak for stocks. >> a blowout quarter, users increase continued in momentum. >> the storm could be one for the record books. forecast calling for as much as 2 1/2 feet of snow in some parts of the northeast. already more than 3,700 flights have been canceled. we'll get more from the weather channel on the path of nemo. >>> mcdonald's down 1.9 in january. middle east and africa, europe saw a 1%, 2% decline. u.s. the only bright spot. comps up 9%. even some suggestion that asia, which is 40% japan, but also china, got tainted with the chicken contamination scare. >> that wouldn't surprise me
, make 3 million cars in china every year, a company you can own to play the catch up trade in the emerging markets. >> howard? >> i agree with what sarah said. apple has couldn't come up 4.7 times ebidta. apple is extremely cheap, the stock will be at $600 the next 18 months. buy it again. >> go back to 600. >> you care about all the proposition 2? >> yeah. >> i don't think it's critical >> i think it is a bit of a nuisance. this is a company that's made more money for shareholders in the last few years than the entire rest of the technology industry combined. give them a break. they didn't even have a dividend 12 months ago. >> right or wrong? >> i don't know if he's right or wrong. i think you have to give management a little bit more time. i think that we are going a little too hasty pushing them h i think they will do the right thing, return more cash to shareholders. no question about it. give them a chance. >> thank you, guys. >> take the foot off their throat. >> join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk
, the largest since facebook. >> 27% of revenues coming from brazil, india, and china. it will be one we will watch closely here at the nyse today. >> we're hoping for animals on the floor. >> oh, yeah. >> it would be nice, right? >> livestock is a big bulk of their revenue, so a goat or something. >> we also do have sad news today. former new york mayor ed koch passing away early this morning from congestive heart failure. he was 88 years old. koch led new york city for 12 years, known for saving the city from financial ruin. michael bloomberg saying in a statement the city has lost an icon. a cheerleader, champion, 5,000-word oh bit in the "times" today, words like pugnacious, tenacious, outspoken. david, you know his story pretty well. he really did set the stage for giuliani to change the city. >> yeah, he was the consummate new yorker. of course, living in his apartment not far from here, in greenwich village for so many years. not everybody in the community, but many would say, our mayor. when he came into the office in '78, the city was at or near its nader. i can remember it well
talking about a lower price. >> i see many as a china play. >> look, i came away. i had a week off and i said to myself, you know what? this will be a dynamite start to just say with b look, apple, like it, inexpensive, no catalyst. by myself loving my ipad, and i think that's always the problem. wow, good products, but there's google opening retail stores and chrome is a better seller. i think that the whole hoopla over the cash position may not be nearly as important as what they can do with the cash if they would just outline it to us. and i'm not talking about investments. i'm talking about shame. >> $330 phone will help get ahood foothold in china? >> look, i wish i knew what was happening in china, other than charges that they're spying one. >> we'll talk more about this later on. there's the bell at the big board. imperative asset management buying the shares celebrating the heritage eye yields, etfs. over at the nasdaq, comcast, a company we love and bravo's top chef season ends finale, ten years. >> i can remember the first one. remember. we obviously work for comcast. again, i
started getting gripped again by china. maybe china's not strong enough. very worried about europe. then you add those on to the fed minutes and think, wait a second, doesn't the fed know there's a gasoline -- that there's a run, a speculative run? doesn't the fed know about this? where are they? >> the irony of the fed minutes is they said they should consider changing the pace of qe, so if the economy's better, right, they'll pull back qe. or if there are questions about the efficacy of the program, in which case it doesn't matter if they're in there, because it doesn't work. so either way, it would be good in theory. >> what i thought was disheartening, for a couple of weeks we were focusing on stocks, on companies. >> m & a, right? focusing on the pickup in m & a. >> and then we see, oh, no, it's not the pickup in m & a, it's the spanish banks. aren't you worried about berlusconi? i am not going to go back into a world where all i care about is italian unemployment. just not going to go there. i worry about our unemployment, so does bernanke. >> it proves again, to the fed, the
. in asia, china up eighth straight session. nikkei highest level since september of 2008. disney set to open at record highs. strength in media networks. word that it's planning films based on "star wars" characters. >>> zynga, revenues continue to fall and the social gaming company said 2013 would be profitable. >>> company seeing momentum in america's improvement in europe and big margin gains for 2013 for ralph lauren. >>> the post office could be eliminating or cutting back deliveries on saturday. we'll explain. they carry the official announcement at 10:00 a.m. this morning. >>> we start with disney. shares rising pre-market, set to open at all-time highs at fiscal fourth quarter profits beat the markets. growing attendance at the theme parks. real news came during bob iger's interview with our own julia boorstin. >> in fact, we are working on a few stand-alone films. larry kazden and simon ginberg are working on films derived on "star wars" characters that are not part of the overall saga. we still plan to make "star wars" 7, 8 and 9 over roughly a six-year period of time. ther
it down 1,100 points as well. asia got action as well as china. nonmanufacturing came in better than expected. clearly the story is going to be in europe for most of the morning. >> we've certainly seen a flight to safety take place this morning, as we've seen the bond yields, particularly the spanish 10-year bond yields blowing out overnight. we're seeing bids higher today. german bonds also higher. the 10-year yield in the united states, back below 2% at this point. >> we're nowhere near the yields that we saw at the end of 2011, of course. and that we dealt with so often in the second quarter of last year, in terms of the crisis atmosphere that engulfed up. and in europe, and in this market. still far from that, but interesting that we are revisiting europe in a way perhaps that people had become almost inured, but expecting we would not be. >> if you're looking for details on what exactly is going on, simon hobbs here a bit early here atost 9. >> good morning to you, carl. david makes an important point. we rallied on risk assets in europe and we're wobbling at the top of ha rall
is not hiring at any factories in china, this after a federal judge said green light capital einhorn has a likelihood of success. in this case against apple over the large cash holdings. a couple of issues here in terms of apple. first, let's deal with the fox conn. scaling back, but could that just be that another iphone is in the pipe. >> i think we'll read a story in the next two hours from the defen defense analysts saying, i've been in touch with foxconn and they've moved the business over. apple does a lot to try to -- like cisco used to do, by the way -- to make it so you can't read the tea leaves. we can trade on every single bit of news. but we've been whip sawed. it's not been a great strategy. >> between the hacking news, einhorn showdown in court, the news flow continues to rain on apple, every single day. it's amazing. >> yeah. an enormous company with interest in so many different places, and so much interest in it. >> you were pointing out an npd number. >> 20% of all consumer spending on technology in 2012 was apple. 20% of all spending on technology. >> on all consumer s
this morning. tokyo rebounded along with the rest of asia. china pmi is out tonight. >> our road map this morning starts with what could be a record-setting day. as carl mentioned, the dow just 89 points away from its all-time high, sit a day away from the potential sequester cuts kicking n >> the bleeding continues at jc penney. sales down a whopping 28% from the holiday quarter. how much time does ron johnson have to turn things around in the stock down 40% since they took over? >> speak of bloodbaths, group reason shares taking a dive on its much, much wider quarterly loss. analysts not betting on the company being able to outage zohn amazon on its new strat joif selling goods. >>> we begin with the dow taking aim at record territory after a second consecutive triple digit gape. the blue chips now less than 20 points from their all-time closing high setback on october 9, 2007. the dow's intraday record high reached two days later, hitting 14,198. jim, it could be a very important day for the dow but a lot of people will say what's going on with the s & p 500, nasdaq and russell 2,
, the consul general, the people's republic of china, celebrating chinese new year this sunday the year of the snake. i don't know if that is good luck year or not. i nose dragson a good year. >> extremely auspicious year. you are born in the year of the dragon -- >>> it i'm year of the dog. any idea, guys? no? >> ox. >> you're of higher stock. >> let's hope. every year to be that year. >> fix said. i would point out that the chinese consulate, saks says people from china come n ralph lauren call said russian tourist and chinese tourists driving the ralph lauren success in europe, pretty remarkable and they made a point that latin american tourists are starting to drive things. these counsuls are not idle. visas to come to our country, saks doesn't report monthly numbers. >> 1.82, beat by 3 cents, 14 billion transaction, 14% year-over-year for visa. new ceo, owning the quarter for the first time. >> wells fargo downgrade? people are thinking this group is tired? i think that the plastic -- the paper plastic is a big secular growth theme. >> that chart's >> looks like apple -- >> before
. despite signs of weakness in china in manufacturing. we'll dig deeper into what is driving stocks. >> shares of barnes & noble are jumping this morning. the chairman making a bid for the business. >> lowe's numbers come in strong after getting a boost in sales from hurricane sandy. >> plus, we're five days away now from the automatic spending cuts. why isn't wall street showing any signs of worries? >> yeah, not much worry at all, right? >> we're going to talk about that. futures rallying, you saw it there, the markets looking for a higher open today. the s&p 500 posted its first weekly loss of 2013. markets here in the u.s. getting a boost from overseas. and lifted by optimism over the italian elections, and prospects for looser japanese monetary policy. >> yeah, that's it. in a nutshell. >> i was wondering what it was when i was driving in this morning. now i know. >> we can end the show now. >> i thought it was the academy awards plus the fact that a lowe's car won in the daytona. but this is much better. it makes me feel more -- i mean, lincoln, you know, daniel day lewis won,
plays. and we start warming up to china again, with the change of government. this march -- i'm very excited. >> march is coming up. the joy global point leads us to why copper and gold and crude have not kept pace, jim, with what equities have done so far this year. >> i know. copper is a conundrum. everybody wants to see copper go up. the day rate has been fixed at the 790 level forever. copper has always been an important buffer. there's also an etf trying to put together for copper. that would use more than the largest copper mine. it would be taken up by this etf. so the cross currency, again, i find are mixed, mixed, mixed. i think that's why it's so hard for people. i like the fact that lumber is doing great. so you can go and make a bet on lumber. then i come back and say, wait a second, if gasoline goes higher, won't they stop going? i mean, we've got to get gasoline lower. but there's no initiatives in that margin. >> unleaded, up again. >> isn't it something? >> unstoppable. >> it does seem unstoppable. even though oil goes down because of the weaker area oh, the stronger
in the first six months of last year was a slowdown in gdp of china. predom atlanta flaipt because of the slowdown in europe and we saw that taking place with i guess taxes coming out of india. that starts to change and we had a record increase in the fourth quarter of last year. overall, the demand was down about 4%. the gdps for india and china are rising again, so i think that's a more bullish statement. >> okay. we'll leave it there. thank you. >>> we've got the man barens named the top bond manager of the year and here's a twist. he actually looks some stocks right now. plus, the little blue box takes on the big box retailer. tiffany assuming costco over some of its jewelry sales. we'll have the details coming up. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes pos
they have approval in china. emerging markets, you can see celgene up .4 of 1% on the day. >>> let's head to the bond pits now. rick santelli is in chicago. good morning, rick. >> good morning, melissa lee. well, if we looked at the fixed income markets, interday chart of 10s, we could see highly unchanged at 195. if you open the chart up towards april of last year, you could see we're still hovering near 9 1/2-month high yield low price. but we've been hovering there for a while. remember, we have auctions this week. 3s, 10s, 30s. we'll have 10s on the auction block on wednesday. if we look in the foreign exchange market, this is really key. you know, the pound is not having a great time against the greenback. so as you look at one-year chart of the pound versus the dollar, you'll see that the pound's roughly at a six-month low versus the greenback. but let's look at the pound versus the yen. it is still hovering very close to a three-year high. now, let's swap out and look at the dollar/yen, which is hovering very close to a two and three-quarter year high. so this shows us is that the
markets. in china, managed hotels are. >> they're right if you want to to to china. when everybody else is talking china and india, we think europe is right for our model. it wants to be branded. we think that's a huge opportunity for us. we just did a big deal in the uk with nine hotels. it's going to be a lot more with that one company. we're expecting big things in europe this year. that's going to be our focus. we think that matches our model very well. >> congratulations on the jamison deal as well. >> thank you. >> good choice. >>> big mover in today's session. let's send it over to josh lipton. >> melissa, we're watching bank rate, which is in free fall this morning. the personal finance website is expecting lower than expected profit. below the street estimates. analysts say the insurance lead vertical, or where users search for insurance rates on the site, continue to underperform. the street taking notice, rbc cuts its price target to $11. sun trust cuts its price target to 14. bank rate at 33% since the ipo in june 2011. melissa, back to you. >> thank you, josh lipton. >>> br
that the business in the united states, latin america and especially china is very, very strong. so overall i think the earnings report presents a picture of a very healthy couple. >> bob, i'm curious, how seriously do you think investors should take this prediction that europe will return to break even by mid decade given all that is going on in europe. can the company accurately make such a forecast or can we expect when the time comes again the losses will be ratcheted higher? >> well, look, the recession there, a lot of indications that the recession in europe has about bottomed out. i know some of the big investment banks are starting to buy up european securities because they expect the turning point to come fairly soon. gm is not waiting for that, like other companies they are taking measures to address that by reducing capacity. i think by mid decade, heck, that's two to two and a half years from now, we should see solid progress. not only for gm. again, europe is not a gm problem. europe is an industry problem. i think at this point a forecast of break even by the middle of the decade is a
demand, that's mutually beneficial because, for example, china depends on the strength of europe and the u.s. as their export market and we, too, depend on other countries as well as a market for our goods. so this is, i think, a positive sum game, not a zero-sum game that we have here. >> but there was some choncern n the last meeting this target being at the end 110 instead of 78 like it was 90 days ago or maybe longer. but there is some concern that the currencies can get out of balance and that will have a significant impact on trade. would you agree with that? there was certainly -- >> there was certainly discussion of the issue. the emerging market economies, which are at full employment in many cases, are unhappy because low interest rates in the advanced economies give them a choice they don't like. either they have to accept low interest rates which they feel causes inflation or problems in their own economy or alternatively they have to let the exchange rate appreciate which hurts their export market. so, they have had some concerns with accommodative monetary policies
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